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Secured Mastercard® from Capital One®

Secured Mastercard® from Capital One®

Access to Higher Credit Line After 5 On-Time Payments

Secured Mastercard® from Capital One®
  • Regular Purchase APR 26.99% variable based on the Prime Rate
  • Balance Transfer APR 26.99% variable based on the Prime Rate
  • Cash Advance APR 26.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Poor , No Credit Required
  • Processing Network Mastercard
Best Benefits
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit
  • Make the minimum required security deposit and you'll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
  • It's a credit card accepted at millions of locations worldwide
Rates & Fees
  • Regular Purchase APR: 26.99% variable based on the Prime Rate
  • Balance Transfer APR: 26.99% variable based on the Prime Rate
  • Cash Advance APR: 26.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
  • Late Payment Penalty Fee: Up to $39
  • Minimum Deposit Required: $49, $99, or $200 based on your creditworthiness

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At a Glance

The Secured Mastercard® from Capital One® is a useful tool for building credit, so long as you make the required security deposit and follow through with the responsible behavior that credit bureaus tend to look for. You can also gain access to a higher credit line after making your first 5 monthly payments on time, sans any further security deposits.

Ideal for Those Who:

  • Want to quickly build your credit using a secured card
  • Do not want to pay annual fees or foreign transaction fees
  • Want a Capital One card accepted at millions of locations worldwide

At a Glance

The Secured Mastercard® from Capital One® is a useful tool for building credit, so long as you make the required, refundable security deposit and follow through with the responsible behavior that credit bureaus tend to look for. You can also gain access to a higher credit line after making your first 5 monthly payments on time, sans any further security deposits. Of course, you can always deposit more money on top of that to further boost your credit line.

Ideal for Those Who:

  • Want to quickly build your credit using a secured card
  • Do not want to pay annual fees or foreign transaction fees
  • Want a Capital One card accepted at millions of locations worldwide

Secured Mastercard® from Capital One® Review

Getting your credit score off the ground isn’t a complicated endeavor when you use the Secured Mastercard® from Capital One®. After making a $49, $99 or $200 refundable deposit based on your creditworthiness, cardholders will get an initial credit line of $200 that will increase in as little as five months so long as they make their first 5 payments on time.

Access to a Higher Credit Line

Access to a higher credit limit is one for the best feature of the Capital One Secured Credit Card. Many secured card offers don’t have a clear strategy for helping those with bad credit work their way towards higher credit lines and an unsecured card offer in the future. Capital one, on the other hand, makes it straightforward – and simple – to improve your credit score and credit history.

Other Card Features

Other conveniences offered by the Secured Mastercard® from Capital One® include no foreign transaction fee, no balance transfer fee, and no annual fee. Individuals carefully watching their spending habits, as one should be when applying for this card, can also rely on the card’s included price protection benefits and 24/7 online account management via mobile devices or their app.

Should You Apply for the Secured Mastercard® from Capital One®?

Overall, the Secured Mastercard® from Capital One® might not be the most exciting secured card, but it is a valuable tool for building credit when used correctly.

Secured credit cards can be confusing, due to annual fees, security deposits, and hidden fees. Capital One streamlines this with its Secured Mastercard from Capital One. No matter what the state of your credit score, or what’s on your credit report, the card is one of the more popular options out there. from the larger card issuers.

Related Article: What Are the Best Secured Cards for Building Credit?

For more information on bad credit and secured credit cards, visit our Comprehensive Secured Card Reference Page, featuring the best-secured card offers, detailed advice, and tips to help you build your credit history.